Indicate the Type of Communication(s)that Correspond to Each of the Following

question 45

Essay

Indicate the type of communication(s)that correspond to each of the following statements.Use the letters A (attorney letter),M (management letter),and WR (written representations).Each statement may be related to more than one type of communication.
1____.Discusses management's responsibility for the fairness of the financial statements.
2____.Is obtained on the date of the auditors' report.
3____.Provides auditors with significant evidence regarding litigation,claims,and assessments.
4____.Discusses the absence of fraud activity by the client and its personnel.
5____.Is not required by generally accepted auditing standards.
6____.Is intended to be returned to auditors as a form of evidence.
7____.Is typically prepared following the audit report release date.
8____.Is signed by an executive of the client.

Recognize the differences and purposes of the Securities Act of 1933 and the Securities Exchange Act of 1934.

Identify the exemptions from registration requirements and their conditions.

Comprehend the requirements and implications of SEC reporting and disclosure obligations.

Understand the implications of the Sarbanes-Oxley, Dodd-Frank, and other significant amendments on securities law.

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Definitions:

Mnemonic

A device, such as a pattern of letters, ideas, or associations, that assists in remembering something.

Method of Loci

A mnemonic strategy involving the use of familiar spatial environments to easily recall information.

Memoranda

Written notes or records used for communication or to aid in remembering information.

Link Method

A mnemonic technique that involves forming a mental image of items to be remembered in a way that links them together.